Massa also anticipated in the presentation of the 2023 Budget that the IMF board would deal with the revision of the goals the second quarter next Friday October 7.
Argentina has already achieved the approval of part of the staff of the Fund, led by the Brazilian Ilan Goldfajnwhich 10 days ago confirmed that Argentina had passed the technical test, for which the head of the agency, Kristalina Georgiev, submitted the report to the board for discussion. If the review is approved, it will trigger an immediate disbursement of US$4.1 billion that would go on to increase international reserves, since the September maturity of US$2.59 billion was made with reserves from the Central bank.
September settlements through the soybean dollar reached the US$8,123 million, as announced yesterday by the minister. This allowed the Government to accumulate international reserves for US$7.646 million
On the other hand, andhe Government is also waiting for the IDB to approve credits for the country for US$1.2 billionwhich is estimated to arrive in the last quarter of the year.
The agreement was signed by Massa and the until last week president of the entity, Mauricio Claver Carone, who was dismissed after ethical irregularities were verified during his role as head of the entity. In the environment of the Ministry of Economy they rule out that this brings complications when the loans for Argentina are voted.
The IDB had approved a series of credits for US$800 million that were intended to increase reserves, but were braked because of the relationship that the Government maintained with the Bank.
The IDB is in the process of electing a new president while the executive vice president holds the position on an interim basis Queen Irene Mejia Chacon.
The change of authorities contributed to delaying the IDB’s agenda a bit: initially, according to the statement issued by the entity last month, the new credits for the Argentine case were going to be discussed at the end of September, and now it is expected that it could be discussed next Wednesday in the usual weekly session of the IDB board, or eventually in an extraordinary one that could be on October 6 or 7, the same day that the Fund’s board will vote on its disbursement.
The IDB clarified, for its part, that the Bank’s budget support to Argentina is part of the fulfillment of an existing agreement with the International Monetary Fund and the IDB’s own assessment of the country’s macroeconomic conditions.
IDB support served to give more strength to the Argentine position in the technical review implemented by the Fundprior to the meeting that Massa had with Georgieva in Washington, and before the meeting between President Alberto Fernández and the head of the IMF in the framework of the United Nations Annual Assembly in New York.
Source: Ambito
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